Common use of Certain Credits Clause in Contracts

Certain Credits. Neither Agent nor any Lender is obligated at any time to credit Borrower for any amounts due from any purchase of any Mortgage Collateral contemplated under this agreement until Agent has actually received immediately available funds for that Mortgage Collateral in the amount required under this agreement. Neither Agent nor any Lender is obligated at any time to collect any amounts or otherwise enforce any obligations due from any purchaser in respect of any such purchase.

Appears in 1 contract

Sources: Loan Agreement (Matrix Capital Corp /Co/)

Certain Credits. Neither Agent nor any Lender is obligated at any --------------- time to credit Borrower (or any Approved Investor) for any amounts due from any purchase of any Mortgage Collateral contemplated under this agreement until Agent has actually received immediately available funds for that Mortgage Collateral in the amount required under this agreement. Neither Agent nor any Lender is obligated at any time to collect any amounts or otherwise enforce any obligations due from any purchaser in respect of any such purchase.

Appears in 1 contract

Sources: Credit Agreement (Pioneer Commercial Funding Corp /Ny/)